Goods and Services Tax – GST – By: – CASanjay Kumawat – Dated:- 16-10-2017 – List of Notifications Based on the recommendation of the GST Council s 22nd meeting, the Central Government has issued various Notifications to make effective/applicable all the changes as recommended by the GST Council. List of Notifications and their particulars are as follows: Notification No. Integrated Tax (Rate)- 13.10.2017 Notification No. 32/2017 (On the similar lines, Notification No. 38/2017-Central Tax (Rate) dated 13.10.2017 has been issued under CGST Act, 2017) Exempts the inter-State supply of goods or services or both received by a registered person from unregistered supplier from the whole of the IGST leviable thereon under section 5(4) of the IGST Act. The exemption contained in this notification shall apply to all registered persons till the 31st day of March, 2018. Applicable w.e.f. 13.10.2017. Notification No. 33/2017 (On the similar lines, Notification No. 32/2017-Central Tax (Rate) dated
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om Central Government, State Government, Union territory or local authority, in the form of grants. Entry No. 22A: Services provided by a goods transport agency to an unregistered person, including an unregistered casual taxable person, other than the specified recipients. Entry No. 24A: Service by way of access to a road or a bridge on payment of annuity. Widened the scope of exemption Entry No. 43 of the Notification No.09/2017- Integrated Tax dated 28.06.2017. Revised text is as follows: Upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable in respect of service by way of granting of long term lease of thirty years, or more) of industrial plots or plots for development of infrastructure for financial business, provided by the State Government Industrial Development Corporations or Undertakings or by any other entity having 50 per cent. or more ownership of Central Government, State Government, Union territory to the industrial unit
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x (Rate) dated 13.10.2017 has been issued under CGST Act, 2017) Insertion of new entry for reverse charge mechanism in Notification No. 10/2017-Integrated Tax, dated 28.06.2017, are as follows: Entry No. 12 Category of Supply of Services : Supply of services by the members of Overseeing Committee to Reserve Bank of India Supplier of service: Members of Overseeing Committee constituted by the Reserve Bank of India Recipient of Service: Reserve Bank of India. Notification No. 35/2017 (On the similar lines, Notification No. 34/2017-Central Tax (Rate) dated 13.10.2017 has been issued under CGST Act, 2017) Change in rate of various items Notification No. 36/2017 (On the similar lines, Notification No. 35/2017-Central Tax (Rate) dated 13.10.2017 has been issued under CGST Act, 2017) Amended the Notification No. 02/2017-Integrated Tax (Rate) dated 28.06.2017 – Exemption for certain specified goods. Notification No. 37/2017 (On the similar lines, Notification No. 36/2017-Central Tax (Rate) dat
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e Motor Vehicles was purchased by the lesser prior to 1st July, 2017 and supplied on lease before 1st July, 2017 i. The supplier of Motor Vehicle is a registered person. ii. Such supplier had purchased the Motor Vehicle prior to 1st July, 2017 and has not availed input tax credit of central excise duty, Value Added Tax or any other taxes paid on such vehicles Sunset period: On or after 1st July 2020. Notification No. 39/2017 (On the similar lines, Notification No. 31/2017-Central Tax (Rate) dated 13.10.2017 has been issued under CGST Act, 2017) Amendments of the GST rates for the following services: Composite supply of works contract as defined in clause (119) of section 2 of the CGST Act, 2017. – Earth work related – 5% Oil and gas exploration and production (E&P)- 12% Transport of passengers by any motor vehicle – 5% or 12% Transportation of natural gas through pipeline- 5% or 12% Renting of any motor vehicle- 5% or 12% Leasing of motor vehicles purchased and leased prior to 1st
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T Acts by the Commissioner of the CGST Act, 2017, shall act as proper officers for the purpose of sanction of refund under section 20 of the IGST Act. Central Tax- 13.10.2017 Notification No. 40/2017 Notifies the registered person whose aggregate turnover in the preceding financial year did not exceed one crore and fifty lakh rupees or the registered person whose aggregate turnover in the year in which such person has obtained registration is likely to be less than one crore and fifty lakh rupees and who did not opt for the composition levy under section 10 of the CGST Act as the class of persons who shall pay the central tax on the outward supply of goods at the time of supply as specified in section 12(2)(a) of the CGST Act including in the situations attracting the provisions of section 14 of the said Act, and shall accordingly furnish the details and returns as mentioned in Chapter IX (Returns) of the CGST Act and the rules made thereunder and the period prescribed for the payment
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Extends the time limit for making a declaration, in FORM GST ITC-01, by the registered persons, who have become eligible during the months of July, 2017, August, 2017 and September, 2017, to the effect that they are eligible to avail the input tax credit under sub-section (1) of section 18 of the CGST Act, till the 31st day of October, 2017. Notification No. 45/2017 Amended the specified CGST Rules, are as follows: Rule-3 for Composition Insertion of New Rule 46A for Invoice cum bill of supply Rule 54 for consolidated tax invoices Rule 62 for GSTR-4 Rule 3 for Form GST CMP-02 In Form GSTR-1 , Zero rated Supply In Form GSTR-1A , Zero rated Supply In Form GSTR-4 Notification No. 46/2017 Threshold limits for composition scheme have been increased, From 75 lakhs to 1 Crores From 50 lakhs to 75 lakhs Compensation Cess (Rate)- 13.10.2017 Notification No. 6/2017 Insertion of new entry for levy of cess on motor vehicle, is as follows: Entry No.: 2A Description of goods: Leasing of motor vehicl
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